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Brokerage
Posted: October 31, 2023
Ariel Property Advisors arranges $19.1 million sale of mixed-use property
Bronx, NY Ariel Property Advisors (Ariel) has brokered the $19.1 million sale of an affordable multi-family and commercial property at 950 Westchester Ave. in the Longwood neighborhood.
An Ariel team led by founding partner Victor Sozio along with senior director Jason Gold, director Howard Raber, president and founder Shimon Shkury, and director Daniel Mahfar represented the seller.
The 160,000 s/f, 12-story building includes 111 residential units, a community facility with seven office units, and two retail units. The property also benefits from tax abatements through the ICIP and 421a programs.
950 Westchester Ave. is near several transportation alternatives including the 2, 5 and 6 subway lines as well as the Bruckner Expwy., providing access to the rest of the city and the tri-state area. The property is also is near multiple retail sites including Walgreens, Chase, Duane Reade, Planet Fitness, and the NY Public Library.
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